New York, NY, Aug. 21, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Web Content Management Market by Deployment Pattern (Cloud, On-Premises, and Hybrid), by End-Use Industry (Retail, IT & Telecom, Education, Government, BFSI, and Others), and by Solution (Marketing Campaign Management, Mobile Content Management, Multi-Site Management, Content Analytics, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, the global web content management market accounted for USD 4.9 billion in 2017 and is expected to reach USD 14.2 billion globally by 2024, growing at a CAGR of around 16% between 2018 and 2024.
Web content management is a system consisting of tools that enable enterprises to manage digital data on their website. Due to the technological advancements in various industrial sectors, web content management has become a crucial part of an organization growth. Web content management tools help firms to create, modify, display and analyze content on their website.
Browse through 63 Tables & 30 Figures spread over 148 Pages and in-depth TOC on “Global Web Content Management Market Size & Growth 2017 Report: Industry Share, Trends, Applications, Analysis and Forecast, 2024”.
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Over the past decade, the IT industry has grown at a remarkable rate. In 2015, the global revenue generated by the IT sector was almost USD 4,400 billion as compared to USD 3,433 billion in 2010. This growth is due to the increasing number of offshore development centers in the Asia Pacific region. IT industry in India alone generated revenue of about USD 120 billion in 2015 as compared to USD 60 billion in 2008. This number is anticipated to grow as the IT sector in India is projected to reach USD 250 billion in 2020. Thus, rising IT sector in Asia Pacific region is proving to be a major driver for the web content management market.
Governments of various countries such as the U.S., China, Canada, and India, among others are investing heavily in the education sector. In 2016, the U.S. government allocated a budget of USD 70.4 billion, about USD 3.6 billion more than that allocated in 2015. The Indian government also increased its budget for education by 9.9% in 2017 from 2016. Digitalization has paved the way for institutions to offer education as an independent service. Online courses combined with an augmented supply of learning resources have introduced the trends of personalized education. Thus, it is predicted that education segment will fuel the growth of the web content management market during the forecast period.
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Global web content management market is bifurcated as per solution into marketing campaign management, mobile content management, multi-site management, content analytics, and others. Mobile content management is estimated to dominate the web content management market during the forecast period. The share is attributed to the increasing adoption of smartphones in e-commerce transactions. Further, the web content management market is segmented on the basis of end-user industry into retail, IT & telecom, education, government, BFSI, and others. The retail segment is projected to hold a substantial share during the projected time frame.
North America is the most technologically advanced region hence is expected to hold a significant share in global web content management market. About 85% of global IT & Telecom organizations are headquartered in North America. The presence of recognized companies such as Oracle Corporation, Adobe Systems Inc., IBM Corporation, and Microsoft Corporation is majorly contributing to the market share. In 2017, the IT sector in the U.S. witnessed a growth of about 18% as compared to the previous year. Thus, it is anticipated that North America will dominate the market over the forecast period.
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European web content management market is preliminarily driven by the rising demand in financial institutions, and retailers. In the UK alone the retail sales increased from USD 502,459 million in 2016 to USD 526,009 million in 2017. In 2018, the online sales in the European market are expected to grow by 10% as compared to 2017. This number is anticipated to grow during the forecast period. Further, in 2016, the financial service investment projects in Europe grew by 6% as compared to 2015. Thus, Europe is predicted to fuel the growth of the web content management market.
The Asia Pacific is expected to grow at a substantial rate during the estimated timeframe in global web content management market. Developing economies such as China and India have a great potential for the web content management market. Digitalization is expected to drive the market in this region. Indian mobile internet users in 2017 were about 456 million, 17% more than that of 2016. It is anticipated that this rise of mobile internet users will fuel the growth of mobile content management segment of the market. Further, China contributed about 23% of the total e-commerce sales in 2017. Thus, the growth of web content management in the Asia Pacific is still imminent.
Browse the full "Web Content Management Market by Deployment Pattern (Cloud, On-Premises, and Hybrid), by End-Use Industry (Retail, IT & Telecom, Education, Government, BFSI, and Others), and by Solution (Marketing Campaign Management, Mobile Content Management, Multi-Site Management, Content Analytics, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/web-content-management-market
Latin America is projected to contribute substantially to the growth of the web content management market. Rising adoption of online banking services will propel the demand for web content management market in this region. In 2015, Brazil was one of the leading online banking service providers as almost 44% of the users were accessing web banking services. As of 2017, online banking customers in Argentina were about 6.5 million. This number is expected to grow during the projected timeframe. Thus, Brazil and Argentina are anticipated to be the key contributors to the growth of the market.
Some of the major competitors in the web content management market are Oracle Corporation, Adobe Systems Inc., IBM Corporation, Microsoft Corporation, OpenText Corporation, SDL Plc, Sitecore Corporation A/S, Acquia, Inc., Rackspace US, Inc., and Episerver, Inc., among others.
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The report segments the global web content management market as follows:
Global Web Content Management Market: Deployment Pattern Segment Analysis
- Cloud
- On-Premises
- Hybrid
Global Web Content Management Market: End-Use Industry Segment Analysis
- IT & Telecom
- BFSI
- Retail
- Education
- Government
- Others
Global Web Content Management Market: Solution Segment Analysis
- Marketing Campaign Management
- Mobile Content Management
- Multi-Site Management
- Content Analytics
- Others
Global Web Content Management Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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